Chemical Engineering Economics detailed syllabus scheme for Chemical Engineering (CH), 2017 regulation has been taken from the University of Mumbai official website and presented for the Bachelor of Engineering students. For Course Code, Course Title, Test 1, Test 2, Avg, End Sem Exam, Team Work, Practical, Oral, Total, and other information, do visit full semester subjects post given below.
For all other Mumbai University Chemical Engineering 4th Sem Syllabus 2017 Pattern, do visit CH 4th Sem 2017 Pattern Scheme. The detailed syllabus scheme for chemical engineering economics is as follows.
Chemical Engineering Economics Syllabus for Chemical Engineering SE 4th Sem 2017 Pattern Mumbai University
Prerequisites:
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Course Objectives:
- To understand various economical terms and economics related activities which can be helpful to them during economical evaluation of any chemical engineering related problem.
- To learn about various basic economic aspects like need, demand, supply, price, cost and market.
- To make familiar to calculate the interest amount on investments as well as loans by different methods
- To understand the concepts of present and future worth of property.
- To understand existing rules and regulations as well as types related to taxes and insurance.
- To understand the methodology of cost estimation including fixed and variable costs by considering the concept of cost indices.
- To have the knowledge about evaluation of depreciation cost as well as salvage value, scrap value, book value of property
- To understand the concept of profitability evaluation of project and select best process alternative based on its economic evaluation.
- To understand the concept of balance sheet, profit and loss accounting and income statement
Course Outcomes:
- Students should will be expose to market And demand driven economics in chemical industry.
- Get an idea on the growth and development of futuristic planning.
- Students will be able to calculate the profitability, rate of return on investments and cost estimation.
- After acquiring the knowledge in this subject, students become familiar with various aspects related to economics and can apply them for economic evaluation of chemical process and decide its economical feasibility.
- The knowledge in this subject will make the students well aware about economic evaluation of dissertation work that they will undertake in final year of their curriculum.
- Students will learn to prepare realistic cost estimation to prepare plan and offer.
Module 1
Introduction to Basic Principles of Economics:
- Economics-various definitions
- Concept of Need – hierarchy
- Market – Concept of Price determination under particular market conditions – perfect competition market & monopoly market, causes
- Price Discrimination-concept, types
- Concept of Cost-total cost, fixed and variable cost, direct and indirect cost
- Cost index – definition, types 02
Module 2
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Module 3
- Economics of production and Growth:
- Production function-types of production economies
- Diseconomies of scale
- Features of growth
- Growth v/s Development
- Determinants of growth (economic and non-economic)
- Stages of growth & futuristic planning
- Growth strategy- steady state and big – push growth strategy; balanced and unbalanced growth 02
Module 4
- Cost Accounting:
- Outline of Accounting Procedure
- Basic Relationship in Accounting
- Balance Sheet- types of Asset; Current and Cash Ratio
- Income Statement; Debits and ; General format of Journal and Ledger
- Methods of cost accounting 03
- Accumulation, inventory and cost-of-sales account
- Material cost – Different Methods: current average, fifo, lifo 03
Module 5
- Interests and Investment Costs:
- Importance of time value of money- Interest and Interest rate;
- Types of Interest – Simple interest (ordinary and exact), Compound interest, Nominal and Effective interest rates, Continuous interest
- Present worth and Discount
- Annuities, Perpetuities and Capitalized costs
- Cash Flow in Chemical Project
Module 6
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Module 7
- Cost Estimation:
- Cash flow to Industrial operation – Tree diagram; Cumulative Cash position
- Factors affecting cost estimation;
- Total, fixed, working capital investment
- Breakdown of Fixed capital investment- Direct costs; Indirect costs;
- Types of Capital Cost Estimates
- Grass Root plant; Battery limit;
- Estimation of equipment cost by scaling; Components of costs in FCI;
- Methods of Cost Estimation
- Estimation of Total Product Cost;
- Break even Analysis
- Cost estimation to prepare offer. 10
Module 8
- Profitability, Alternative Investments & Replacements:
- Introduction; Profitability Standards;
- Mathematical methods for profitability evaluation- Rate of Return on investment method , Discounted cash flow method , Net present worth method, Capitalized Cost method , Pay out period method;
Advantages & Disadvantages of Different Profitability Analysis Methods and their comparison
- Alternative investments
- Replacement analysis
- Practical factors affecting investment and replacement decisions 11
Term work
Term work shall consist of minimum eight tutorials from entire syllabus which are to be given at regular intervals Batch wise. Tutorials: 20 marks Attendance: 05 marks Total: 25 marks
Assessment
For the complete Syllabus, results, class timetable, and many other features kindly download the iStudy App
It is a lightweight, easy to use, no images, and no pdf platform to make students’s lives easier..
Reference Books:
- Peters, M. S. and Timmerhaus, K. D. , Plant design and economics for chemical engineers, latest edition, Mcgraw Hill, New York
- Pravin Kumar Fundamentals of Engineering Economics Wiley India.
- Kharbanda, O. P. and Stallworthy, E. A. Capital cost estimating for process industries, Butterworths, Londen
- K. K Dewett and Adarshchand, Modern Economic Theory, latest edition, S Chand and Company
- O. P Khanna, Industrial Engineering and Management Dhanpat Rai Publications P Ltd.
- AtulSathe, Shubhada Kanchan, Chemical Engineering Economics, Vipul Prakashan, Mumbai
- Indrajit N. Yadav, Chemical Engineering Economics Sai- publication, Pune 2nd edition, 2017
For detail syllabus of all other subjects of Chemical Engineering (CH) 4th Sem 2017 regulation, visit CH 4th Sem Subjects syllabus for 2017 regulation.